Practice The Role Of Data Science In Business (18.1) - Data Science for Business and Decision- Making

Practice: The Role of Data Science in Business

Lesson 18.1Data Science for Business and Decision- Making

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9 questions

Flashcard drill
5 cards from this section. Quick, good the night before a test.
Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
Define business decision-making in your own words.
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Think about selecting the best action for the business.
Question 2.
What are two types of business decisions?
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Consider long-term vs short-term decisions.
3Question 3.
What is the main goal of business decision-making?
- To generate profit
- To achieve organizational goals
- To create products
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Consider what decisions aim to accomplish.
4Question 4.
True or False: Evidence-based decision-making relies on data.
- True
- False
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Think about how data influences decisions.
Question 5.
Consider a retail company struggling with high return rates. How can data science be used to enhance decision-making in this scenario?
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Think about what data might inform their decision-making.
Question 6.
A company wants to optimize its marketing budget across multiple channels. What steps should it take using data science methods?
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What types of data would be most useful in this scenario?

5 more questions in this section. Enroll free to practise them all.